Corn futures were unchanged on the spot month and higher on the other contracts at the close today. For the week corn was down 57 cents on the spot month. The weekly CFTC report showed Managed Money had increased their net long in corn by 25,355 contracts from the previous week. June serial... (full story)
Soybeans closed higher with new crop stronger on the day. Soybeans were down 23 cents for the week on the spot month. The weekly CFTC report showed Managed Money had decreased their net long by 15,781 contracts. Technical indicators are very oversold and looking for a reason to bottom out. The BA... (full story)
Wheat futures finished the session sharply higher today with concerns weather in the U.S. and Russia will deteriorate the wheat crop. Wheat futures prices moved sharply above the down trend line on the weekly chart off the February of 2011 high last week with this week taking out last week’s high... (full story)
Cattle futures ended the day session lower and were down $1.88 for the week. The weekly CFTC report showed Managed Money had increased their net long by 11,682 contracts. Week to date slaughter is estimated at 626,000 head. Cash cattle prices remain above the spot futures price with the Five... (full story)
Lean Hogs closed higher on the day but were down $2.22 for the week on the June contract. The CFTC report showed Managed Money went from a net short of 2,933 contracts last week in Lean Hogs to a net long of 8,268 contracts this reporting period. Week to date slaughter is estimated at 2,059,000... (full story)
Cotton finished the session mixed and was down 437 points for the week. The weekly CFTC report showed Managed Money had increased their net short cotton position by 118 contracts to 12,950 net short. Certificated stocks were down about 20,000 bales from yesterday at 132,639 bales. Decert orders... (full story)
Corn futures are trading higher this morning with the weekly low coming within 6 cents of the December 2011 low this week on the continuation chart. June serial options expire today. Mexico, Canada and South Korea are in the market for their weekly corn tenders. The long range weather forecast is... (full story)
Soybeans are trading higher with new crop stronger. Technical indicators are very oversold and looking for a reason to bottom out. New crop export sales are at an all time high for this time of year with China the driver behind that. U.S. old crop exports to China were an accumulated total of... (full story)
Wheat futures are trading sharply higher today with concerns weather in the U.S. and Russia will deteriorate the wheat crop. Wheat futures prices moved sharply above the down trend line on the weekly chart off the February of 2011 high last week with this week taking out last week’s high but... (full story)
Cattle futures are currently trading mixed with the spot contract higher and the other months lower. Week to date slaughter is estimated at 502,000 head. Cash cattle prices remain above the spot futures price with the Five Area Direct prices at $122.50 for all grades in the live and $193.50 for... (full story)
Lean Hogs are trading higher on the summer months and lower on the other contracts. Week to date slaughter is estimated at 1,667,000 head. Cash hogs are $1.22 lower in IA/MN this morning with some packing houses closed today and all closed on Monday for the Memorial Holiday. Pork trading is very... (full story)
Cotton is trading lower on all contracts. Certificated stocks were down about 20,000 bales from yesterday at 132,639 bales. Decert orders were 19,474 bales. All time high prices curbed demand for cotton in the 2010/11 marketing year and provided incentive for an increased in world production... (full story)
Corn futures are trading 4 to 6 cents higher this morning rebounding on profit taking from the sharply lower close on the old crop corn yesterday. June serial options expire today. The dollar ended higher making new contract highs on the June. Export sales were at the lowest level of the last... (full story)
Soybeans are currently 1 to 3 cents higher. Futures are still above the 100 day moving average on old crop. USDA put export sales for the week ending 5/17/12 at 800,100 MT for 2011/12 marketing year and 153,600MT for 2012/13 marketing year. New crop sales are at an all time high for this time of... (full story)
Wheat futures are trading 7 to 11 cents higher this morning after closing near their lows yesterday. Export sales for last week were 72,400 MT as we approach the tail end of the 2011/12 marketing year but then sales for 2012/13 were 754,600 MT pushing net sales above trade expectations for the... (full story)
Cattle futures are currently trading 15 cents higher on the June contract. Cash cattle prices remain above the spot futures price. There was a push by packers in the NE cash Thursday running dressed sales to $195 on the high end. Cash cattle trades in Kansas and Texas were reported from $120-121.... (full story)
Lean Hogs are trading 10 cents higher this morning. The pork cutout was down 44 cents yesterday after a two dollar plus loss the previous day. The Cutout has lost $3.38 so far this week with pork demand falling short of supply. Loins typically rally into August once the demand picks back up with... (full story)
Cotton is trading 39 points lower on the spot July contract. Weekly export sales were positive again on Thursday, with 118,200 RB of old crop and 115,700 RB of new crop recorded for the week ending May 17, net of small cancellations. China was the largest old crop buyer at 65,900 RB. The data... (full story)
Corn futures were sharply lower on the old crop corn on the close of the day. The dollar ended higher making new contract highs on the June. Export sales were at the lowest level of the last three years for this week. USDA put net export sales at 156,100 MT for 2012/12 marketing year and 325,900... (full story)
Soybeans closed higher on the day with new crop gaining on old but all finishing about 10 cents off the high. Futures are still above the 100 day moving average on old crop but below the average on new crop. Weekly export sales in the U.S. were 953,700 MT for combined marketing years. USDA put... (full story)